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Peak season consumption is expected to improve There is support under Shanghai aluminum

 Last Update: 2022-12-21
 Source: Internet
 Author: User

Tags

energy supply

supply demand production

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Today's Shanghai aluminum main month 2104 contract opened at 17230 yuan / ton, the highest intraday 17385 yuan / ton, the lowest 16960 yuan / ton, settled 17195 yuan / ton, and closed at 16990 yuan / ton, down 370 yuan
.
Today's Shanghai aluminum is weak and volatile, aluminum company profits are still considerable, but production capacity will be affected by policies, peak season consumption is expected to improve, aluminum prices below the support
.

Shanghai aluminum

Today, LME three-month aluminum Beijing time at 15:00 at 2134.
5 US dollars / ton, down 38 US dollars, or 1.
75%,
from the previous trading day's settlement price.

In terms of the market, today's spot trading price of Yangtze River is 17150-17190 yuan / ton, down 330 yuan; Guangdong South Reserve reported 17150-17210 yuan / ton, down 310 yuan; Hua reported 17270-17290 yuan / ton, down 310 yuan
.
Holders began to sell, traders waited and watched, large households were generally enthusiastic about receiving goods, and the transaction situation was average
.

Industry news, Hydro (Hydro) recently announced the signing of an agreement with KPS Capital Partners to sell its aluminum rolling business to the latter for 1.
38 billion euros based on enterprise value, which is an important step
in improving profitability and driving its sustainability agenda.

After the holiday, the accumulation of aluminum ingot inventory is limited, and the high price is not enough to affect the resumption of work of downstream processing enterprises, but there is still an expectation of destocking in the peak season, and the supply side is affected by the energy consumption policy, and the spot aluminum price is expected to rise or fall little
.

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